Kerala High Court
Manacaud Suresh vs M/S. South Indian Bank Ltd., ... on 3 September, 2024
Author: Dinesh Kumar Singh
Bench: Dinesh Kumar Singh
WP(C) NO. 30216 OF 2024
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2024:KER:67288
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DINESH KUMAR SINGH
TUESDAY, THE 3RD DAY OF SEPTEMBER 2024 / 12TH BHADRA, 1946
WP(C) NO. 30216 OF 2024
PETITIONER:
MANACAUD SURESH,
AGED 45 YEARS
S/O. LATE S. KUMARA PILLAI, SIVA BHAVAN, 39/1823, NEW
BYEPASS ROAD, CHALAI, THIRUVANANTHAPURAM, PIN - 695036
BY ADVS.
P.R.MILTON
R.VISHNURAJ
RESPONDENTS:
1 M/S. SOUTH INDIAN BANK LTD., REPRESENTED BY ITS BRANCH
MANAGER ,
TUTICORIN BRANCH,PERARA STREET, TUTICORIN, PIN - 628001
2 M/S. SOUTH INDIAN BANK LTD., REPRESENTED BY ITS BRANCH
MANAGER,
CHALAI BRANCH,POWER HOUSE ROAD,EAST FORT, CHALAI
BAZAR,CHALAI, THIRUVANANTHAPURAM, PIN - 695036
3 THE AUTHORIZED OFFICER, ASSET RECONSTRUCTION COMPANY
(INDIA) LTD.,
IG, 1ST FLOOR, CENTURY PLAZA, NO.560-562,ANNA SALAI,
TEYNAMPET, CHENNAI, PIN - 600018
4 THE REGISTRAR, DEBTS RECOVERY TRIBUNAL-II, ERNAKULAM,
KERALA HOUSING BOARD BUILDING,PANAMPALLY
NAGAR,ERNAKULAM, COCHIN, PIN - 682036
BY ADVS.
Sunil Shankar A
B.S.SURESH KUMAR
ASHLEY JOHN
RANJANA V.
ANUSREE C.S.
CHRISTOPHER THOMAS
VIDYA GANGADHARAN(K/000424/2020)
ARYA SATHEESH(K/002139/2024)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
03.09.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 30216 OF 2024
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JUDGMENT
Dated this the 3rd day of September, 2024
The petitioner has obtained loan from the
respondent bank and has committed default in making
repayment of the loan. Therefore, the bank after
classifying the petitioner's loan account as NPA has
proceeded under the provisions of the SARFAESI Act
and Rules made thereunder.
2. As on 09.06.2021, the outstanding amount was
Rs.15,16,40,376.21 in respect of the loan taken by the
petitioner from the respondent bank.
3. The bank has published notice for disposing of
the secured asset in Ext.P7. The petitioner has
challenged the said notice before this Court. The
petitioner has also approached the Debts Recovery
Tribunal-II, Ernakulam, in S.A. No. 311/2022. The
petitioner has also filed an application for stay as I.A
No.3148/2024.
This Court finds no ground to interfere with the
sale notice as the matter is being considered by the
WP(C) NO. 30216 OF 2024
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Debts Recovery Tribunal, the appropriate Tribunal
under the provisions of the SARFAESI Act and Rules
made thereunder. Thus, the present writ petition is
dismissed, leaving it open to the petitioner to pursue
his remedy before the Debts Recovery Tribunal. Interim
order, if any, stands vacated.
Sd/-
DINESH KUMAR SINGH
JUDGE
AP
WP(C) NO. 30216 OF 2024
2024:KER:67288
APPENDIX OF WP(C) 30216/2024
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE DEMAND NOTICE DATED 9.6.2021
Exhibit P2 THE TRUE COPY OF THE POSSESSION NOTICE DATED
11/05/2022
Exhibit P3 THE TRUE COPY OF THE S.A.311/2022 WITHOUT THE
ANNEXURES PRODUCED ALONG WITH THE SA
Exhibit P4 THE TRUE COPY OF THE WRITTEN STATEMENT FILED
BY THE 3RD RESPONDENT
Exhibit P5 THE TRUE COPY OF THE SALE NOTICE DATED
21/12/2022 PUBLISHED BY THE 3RD RESPONDENT
Exhibit P6 THE TRUE COPY OF THE ORDER IN I.A.1272/2023
IN S.A. NO.311/2022 PENDING BEFORE THE 4TH
RESPONDENT
Exhibit P7 THE TRUE COPY OF THE SALE NOTICE DATED
24/07/2024 ISSUED BY THE 3RD RESPONDENT
AUTHORISED OFFICER
Exhibit P8 THE TRUE COPY OF THE OBJECTION DATED
07/08/2024 FILED BY THE PETITIONER BEFORE THE
3RD RESPONDENT BY REGISTERED POST
Exhibit P9 THE TRUE COPY OF THE VALUATION REPORT DATED
09/01/2018 BY RESPONDENT 1
Exhibit P10 THE VALUATION REPORT DATED 03/08/2024 ON
VALUATION BY THE PETITIONER
Exhibit P11 THE TRUE COPY OF THE STAY PETITION FILED BY
THE PETITIONER AS I.A. 3148/2024 IN
